JPMorgan to Launch Interest-Bearing Deposit Token on Coinbase’s Base Blockchain

JPMorgan Chase will introduce a digital deposit token called JPMD, designed for institutional clients as an alternative to stablecoins, offering on-chain settlement, cross-border payments, and eventual interest payouts. The token will launch on Coinbase’s Base blockchain—marking JPMorgan’s first use of a public chain—and aims to blend traditional banking security with blockchain speed and liquidity. JPM says JPMD will be fully fungible with commercial bank deposits and better aligned with regulated financial infrastructure.